Kerry Co-Operative Creameries completed the acquisition of Kerry Dairy from Kerry Group for €500m.

Kerry Co-Operative Creameries, an agricultural co-operative society, completed the acquisition of Kerry Dairy, a dairy consumer products company, from Kerry Group, a food company, for €500m ($534m). "We are very pleased to have reached an agreement that will ultimately deliver full ownership of one of the leading dairy businesses in the country, while also, in effect, releasing c.85% of Kerry Co-Op's Kerry Group shares into the hands of our members to be retained or sold by each of them at a time of their choosing. Kerry Co-Op and Kerry Group have a shared heritage that has helped create value, pioneer change and shape the dairy industry. As direct shareholders in the plc, members will continue to gain from the Group's progress and, in tandem, the Co-Op will focus on ensuring Kerry Dairy Ireland becomes a platform for future growth," James Tangney, Kerry Co-Op Chairman.